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Proposed Amendment to CLSA Bylaws

The Board of Directors has determined that we qualify as a
501(c)3 non-profit and that we
can fill out the EZ form (1023EZ). The advantages of becoming a 501(c)3 are that we can accept donations
and those donating can claim a tax deduction, which might increase
their interest in doing so. Particularly
in light of our efforts to improve the club’s facilities, there does not appear
to be a downside.

The next step — before we can file the paperwork — is to include
in our by-laws a statement that, if we ever dissolve as a club, our assets will
go to another 501(c)3. That
statement is not currently in the by-laws, and the only way we can make that
change is to have the membership vote on it. We will have that vote at the Nov.
12 banquet/annual meeting at the LeRoy Country Club

Amendment Eight shall
provide that, in the event that the club dissolves, its assets shall be given
to another 501(c)3.

The official wording will read:

Upon the dissolution of the
corporation, assets shall be distributed for one or more exempt purposes within
the meaning of section 501(c)(3) of the Internal Revenue Code, or the
corresponding section of any future federal tax code, or shall be distributed
to the federal government, or to a state or local government, for a public
purpose. Any such assets not so disposed of shall be disposed of by a Court of
Competent Jurisdiction of the county in which the principal office of the
corporation is then located, exclusively for such purposes or to such
organization or organizations, as said Court shall determine, which are
organized and operated exclusively for such purposes.

If
you
have any questions, please don’t hesitate to post on the google forum,
so
everyone can know of the questions and answers. Alternatively, you can
contact me, Angie Hunt, vice commodore, or any of the other board
members listed on our website.